Paws and Claws Pet Supplies borrowed $85,000 to build a new warehouse. The company borrowed the money for 15 years at an interest rate of 10% per year, and the monthly payments are $915.46. When the company makes the first payment at the end of the first month of the loan, by how much will the payment reduce the principal of the loan?
Q: A company has net income of $268,000 and total assets of $2,576,000. What is the ROA? Question
A: 1. Calculate Return on Assets (ROA) Formula: ROA = Net Income / Total Assets Calculation: ROA =…
Q: What is ROA? Accounting question
A: Explanation of Net Income:Net income is the total earnings of a company after deducting all…
Q: I don't need ai answer general accounting question
A: Step 1: Definition of Allocation of Purchase PriceWhen a group of assets is purchased for a lump…
Q: Please provide answer this accounting question answer do fast
A: Step 1: Define Non-Operating LiabilitiesNon-operating liabilities are obligations not directly…
Q: Calculate it's gross profit?
A: The calculation of Gross Profit is as follows:Gross Profit = Sales - Cost of Goods Sold…
Q: how much is the expected total variable cost on the August budget?
A: To calculate the expected total variable cost for August, we consider materials and labor as…
Q: The owner must therefore have:
A: To solve this, we use the accounting equation and the changes provided in assets, liabilities, and…
Q: Correct answer
A: Explanation of FIFO (First-In, First-Out):FIFO is an inventory valuation method that assumes the…
Q: Expert of general account help me to solve...
A: When a company recognizes the cost of goods sold (COGS), it records the expense of inventory that…
Q: accounting questions
A: Step 1: Key ComponentsSales Revenue: Sales Revenue=Units Sold×Selling Price per Unit…
Q: what is the contribution margin ratio? accounting.
A: To calculate the contribution margin ratio, we use the formula: Contribution Margin…
Q: Do fast answer of this general accounting question
A: Step 1: Define Depreciation ExpenseDepreciation expense refers to the fall in the value of assets…
Q: Problem 3.4.2: A classified income statement showed net sales of $755,000, cost of goods sold of…
A: Concept of Net SalesNet sales represent the total revenue a company earns from selling goods or…
Q: Accounting Problem: The markup on a new diamond ring should be 28% based on the selling price. If…
A: Step 1: Selling price = Cost/Cost ratioSelling price = Cost/(Sales ratio - Markup ratio) Step 2:…
Q: A product has a selling price of $63, variable costs of $55, and fixed costs are $72,000. How many…
A: Step 1: Identify the values- Fixed Costs = $72,000 - Selling Price per Unit = $63 - Variable Cost…
Q: What is the company's estimated EOQ on these general accounting question?
A: The Economic Order Quantity (EOQ) formula is used to calculate the optimal order quantity that…
Q: Question
A: Explanation of Contribution Margin: Contribution margin is the difference between the selling price…
Q: What is wildwoods gross profit??
A: Step 1: Define Trading ProfitTrading profit, also called the gross profit is a very crucial metric…
Q: What is the economic order quantity of this accounting question?
A: The EOQ is a very important concept in the management of inventory. It refers to the optimum number…
Q: Compute the cash conversion cycle for both year ?? General accounting
A: Step 1: Define What Is The Cash Conversion CycleA company's Cash Conversion Cycle reflects the…
Q: Please solve this accounting question
A: Step 1: Define Interest PayableInterest payable refers to the amount of interest that accumulates on…
Q: I want to correct answer accounting questions
A: Step 1: Identify the Predetermined Overhead Rate (POHR) Formula Step 2: Substitute the given values…
Q: Calculate operating cash flow accounting questions
A: Step 1: Definition of Operating Cash Flow (OCF)Operating Cash Flow (OCF) is the cash generated from…
Q: The Sugar Shack reports net income of $250,000, sales of $7,500,000, and average assets of $730,000.…
A: Explanation of Net Income: Net income, also known as net profit or the bottom line, represents the…
Q: The following information is available for October for Norton Company. Beginning inventory Net…
A: Step 1: Understand the Gross Profit MethodThe gross profit method estimates ending inventory by…
Q: Solve this question financial accounting
A: Step 1: Define Equivalent UnitsEquivalent units represent the number of complete units that could…
Q: I want to correct answer accounting questions
A: Step 1: Calculate Realized Gain• Formula: Realized Gain = (FMV of Stock + Boot) - Adjusted Basis of…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Days Sales in Receivables (DSR)Days Sales in Receivables (DSR) measures how…
Q: Which of the following statements is true regarding cost per equivalent unit? a. this calculation…
A: The correct answer is:b. This measure is used to assign costs to units transferred out. Explanation…
Q: Calculate eps
A: Explanation of Net Sales: Net sales represents the total revenue generated from selling goods or…
Q: What would a 5-year projection for a startup Accounting Firm business look like with 50 clients?…
A: Firstly, we need to define the services that the accounting firm will provide and the units for…
Q: Concord Corporation sells its product for $80 per unit. During 2016, it produced 60,000 units and…
A: 1. Identify the variable manufacturing costs:Direct materials: $22Direct labor: $12Variable…
Q: What was the absorption costing net opreting income last year?
A: Step 1: Define Absorption CostingThe method used for deterring the price of a product, known as the…
Q: Hii expert please given correct answer general Accounting
A: Step 1: Define Gross ProfitGross profit is a financial matrix that refers to the total amount of…
Q: Hello tutor please provide correct answer general Accounting
A: Step 1: Define Predetermined Overhead RateA company's predetermined overhead rate is used to…
Q: The basic accounting equation cannot be restated as: a. Assets Liabilities = Owner's Equity. b.…
A: The basic accounting equation is: Assets=Liabilities+Owner's Equity. This equation can be…
Q: All purchases and also sales were made with cash ?
A: Concept of FIFO (First-In, First-Out):FIFO is an inventory valuation method where the oldest…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial ratio that…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Noncurrent AssetsNoncurrent assets are long-term assets that a company expects…
Q: ??
A: Explanation of Straight-Line Depreciation:Straight-line depreciation is a method of systematically…
Q: What is the net change in total liabilities?
A: To determine the net change in total liabilities, evaluate each transaction's effect on assets,…
Q: Naroto Corp.'s sales last year were $67,950, and its total assets were $31,400. What was its total…
A: Concept of SalesSales represent the total revenue generated by a company from the sale of goods or…
Q: Exper help me
A: Explanation of Beginning Inventory:Beginning Inventory refers to the value of goods available for…
Q: Please given correct answer
A: Step 1: Define Gain or Loss on Asset DisposalWhen an asset is sold, the company receives the…
Q: Accounting
A: To calculate the unit product cost under variable costing, we consider only the variable production…
Q: Compute the firm's gross profit margin?
A: Step 1: Define Gross MarginGross profit margin refers to the profit made by a company before the…
Q: Don't use AI
A: Explanation of Sales: Sales represents the total revenue generated from selling goods or services…
Q: Cost accounting
A: The correct answer is:c. Assets = Liabilities + Equity Explanation:The accounting equation…
Q: Quick answer of this accounting question solution
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is calculated by…
Q: Please provide answer this accounting question not use chatgpt
A: Step 1: Define Overhead Application RateThe overhead application rate is the predetermined rate used…
Give true answer the accounting question please answer do fast
Step by step
Solved in 2 steps
- Lush Gardens Co. bought a new truck for $66,000. It paid $6,600 of this amount as a down payment and financed the balance at 4.50% compounded semi-annually. If the company makes payments of $2,200 at the end of every month, how long will it take to settle the loan? years months Katherine obtained a business loan of $245,000 at 5.09% compounded semi-annually. a. What was the size of the semi-annual payments to be made over 25 years in order to pay off the loan? b. Calculate the interest paid on the loan. How long would it take to save at least $13,500.00 by making deposits of $800.00 at the end of every 6 months in a savings account that earns 3.63% compounded quarterly? years monthsLush Gardens Co. bought a new truck for $56,000. It paid $5,600 of this amount as a down payment and financed the balance at 6.25% compounded semi-annually. If the company makes payments of $1,600 at the end of every month, how long will it take to settle the loan? 0 years o months Express the answer in years and months, rounded to the next payment periodLush Gardens Co. bought a new truck for $52,000. It paid $5,720 of this amount as a down payment and financed the balance at 4.08% compounded semi-annually. If the company makes payments of $1,700 at the end of every month, how long will it take to settle the loan? a. How many deposits will the company have to make to settle the loan? Round up to the next whole number b. How long will it take to settle the loan? years months E Express the answer in years and months, rounded to the next payment period
- Lush Gardens Co. bought a new truck for $56,000. It paid $6,160 of this amount as a down payment and financed the balance at 4.47% compounded semi-annually. If the company makes payments of $1,800 at the end of every month, how long will it take to settle the loan? Express the answer in years and months, rounded to the next payment period You plan to save money for a down payment of $32,000 to purchase an apartment. You can only afford to save $6,000 at the end of every 6 months into an account that earns interest at 5.50% compounded monthly. How long will it take you to save the planned amount? Express the answers in years and months, rounded to the next payment periodLush Gardens Co. bought a new truck for $58, 000. It paid $6, 380 of this amount as a down payment and financed the balance at 3.78% compounded semi - annually. If the company makes payments of $1, 800 at the end of every month, how long will it take to settle the loan? years months Express the answer in years and months, rounded to the next payment period. PLEASE GIVE THE RIGHT ANSWER ITS VERY IMPORTANTIn order to purchase another truck, Beatty Transport recently obtained a $125,000 loan for five years at 7.8% compounded semiannually. a. What are the monthly payments on the loan? b. The company is considering selling the truck at the end of 3 years and paying off the balance of the loan. What should the monthly payments be so that the value of loan at the end of the first 3 years is $55,000?
- Falco Inc. financed the purchase of a machine with a loan at 2.82% compounded quarterly. This loan will be settled by making payments of $8,000 at the end of every quarter for 5 years. a. What was the principal balance of the loan? Round to the nearest cent b. What was the total amount of interest charged? Laura invested $650 at the end of every month in an investment fund that was earning interest at a rate of 4.44% compounded monthly. She stopped making regular deposits at the end of 5 years when the interest rate changed to 6.66% compounded quarterly. However, she let the money grow in this investment fund for the next 2 years. a. Calculate the accumulated balance in her investment fund at the end of 5 years. Round to the nearest cent b. Calculate the accumulated balance in her investment fund at the end of 7 years. Round to the nearest cent c. Calculate the total interest earned over the 7-year period.General Computers Inc. Purchased a computer server for $72,000. It paid 30.00% of the value as a down payment and received a loan for the balance at 7.50 compounded semi annually. It made payments of $2,650.32 at the end of every quarter to settle the loan. A. How many payments are required to settle the loan? compoundedGeneral Computers Inc. purchased a computer server for $58,500. It paid 40.00% of the value as a down payment and received a loan for the balance at 8.00% compounded semi-annually. It made payments of $2,650.41 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? o payments Round up to the next payment b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places.
- EnergyMax Engineering constructed a small office building for their firm 5 years ago. They financed it with a bank loan for $450,000 over 15 years at 6% interest with quarterly payments and compounding. The loan can be repaid at any time without penalty. The loan can be refinanced through an insurance firm for 4% over 20 years—still with quarterly compounding and payments. The new loan has a 5% loan initiation fee, which will be added to the new loan. (a) What is the balance due on the original mortgage (20 payments have been made in the last 5 years)? (b) How much will EnergyMax’s payments drop with the new loan? (c) How much longer will the proposed loan run?Last year, Lee Industries decided to restructure some of its debt by paying off one of its short-term loans. To do so, the company borrowed the money one year ago at an interest rate of 10% per year. If the total cost of repaying the loan was $53 million, what was the amount of the original loan?Lush Gardens Co. bought a new truck for $60,000 of this amount 6,000 was paid as a down payment and the balance financed at 5.75% compounded semi annually. If the company makes payments of 1,700 at the end of every month, how long will it take to settle the loan?
